Fruit and tree nuts outlook - July 30

Find the USDA's Economic Research Service July 30 Fruit and Tree nuts outlook report here. From the report:


For the first time in 2008, the index of prices received by fruit and tree nut growers rose above a year ago in May and remained higher in June. At 152 (1990-92=100), the June index was 1 percentage point higher than the June 2007 index. Boosting the index were record-high June prices for lemons and apples and a price gain for peaches, which when combined more than offset the price declines for fresh-market strawberries and pears.


Later....

U.S. consumers continue to face higher prices for many fresh fruit. The Consumer Price Index (CPI) for fresh fruit in June, estimated at 346.0 (1982=84=100), was 6 percent above the June 2007 index and the highest for any June index reported since 1989. Boosting the fresh fruit CPI were higher retail prices in June for apples, bananas, Anjou pears, Thompson seedless grapes, strawberries, grapefruit, and lemons. Of the various fruit retail price series for which the Bureau of Labor Statistics’ bases its fresh fruit CPI calculations, only the prices for Navel oranges and peaches fell below a year ago in June. Prices for lemons, Red Delicious apples,
bananas, Anjou pears, and strawberries were at record-high levels for the month. Apart from high fuel prices that are inflating the overall cost to ship fruit to various markets, low supplies of apples, pears, and lemons at the end of the 2007/08 season, together with strong exports, are bumping up the prices for these fruit at the retail level. Continued low supplies in the next couple of months as marketing for these fruits transition to the 2008/09 season will likely keep prices strong. Banana supplies remain low as imports continue to be down from last year due to weather conditions several months ago that dampened supplies in important production regions. Banana retail prices have been climbing up since January, with the June
average retail price being the highest so far for the year.